Bionano Genomics stock jumps as revenue beats Expectations

ionano Genomics Inc. BNGO, -6.96% of the stock rose during the extended trading session on Thursday, after the quarterly revenue of Genomics Analysis Company was better than Wall Street expectations. Bionano shares soared 10% after the market, after falling 7% in regular trading before closing at $4.41. The company reported a loss of $9.9 million in the first quarter, compared with $10.5 million in the same period last year.

Revenue rose from 1.1 million US dollars in the same period last year to 3.2 million US dollars. Analysts surveyed by FactSet had previously predicted revenue of $3 million. Bionano CEO Erik Holmlin said in a statement: “2021 is a solid start for Bionano.” “In the first quarter, we sold a record number of The flow cell, where a record number of samples were analyzed in the service laboratory, has promoted the widespread adoption of Saphyr instruments and increased the installation limit of the Saphyr system that cannot be operated due to travel in 2020.” Bionano’s Saphyr system can help research People develop gene-based drugs.

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